Expenses with private and business use
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…re is detailed guidance on the ‘wholly and exclusively’ rule in the HMRC on-line Business Income Manual http://www.hmrc.gov.uk/manuals/bimmanual/BIM37000.htm To summarise: a) Expenses with business and private use and an identifiable business element Expenses such as telephone, motor expenses, postage, stationery, heating and lighting, rent / mortgage interest could have an identifiable business element b) Expenses with business and private use an…